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Business Wire
30-06-2025
- Business
- Business Wire
Walker & Dunlop Arranged $170 Million Financing for Class A Mixed-Used Project in Downtown Salt Lake City
BETHESDA, Md.--(BUSINESS WIRE)-- Walker & Dunlop, Inc. announced today that it secured $170 million to refinance Post District, a Class A, mixed-use complex containing 580 residential units located in Downtown Salt Lake City, Utah. Walker & Dunlop New York Capital Markets, led by Aaron Appel, Sean Reimer, Keith Kurland, , Adam Schwartz, Dustin Stolly, and Jackson Irwin, served as an exclusive advisor to Bridge Investment Group, with financing provided by Fannie Mae via their near-stabilization program. Developed by joint venture team, Bridge Investment Group, Blaser Ventures and Lowe Property Group as an opportunity zone development, Post District opened in December 2023 and includes five buildings located on the Post District block between 500–600 South and 300–400 West in downtown Salt Lake City. Offering a wide array of layouts – from micro-studios to three-bedroom penthouses – Post District is well versed to cater to multiple different types of residents. The property offers nearly 26,000 square feet of retail space and 498 parking spaces. 'Post District is a dynamic urban redevelopment that reflects the strong demand for thoughtfully designed, mixed-use communities in Salt Lake City's urban core,' said Sean Reimer, managing director of New York Capital Markets at Walker & Dunlop. 'Located at the grand entrance to downtown Salt Lake City, Post District stands as a pioneering example of opportunity zone development, transforming a once-underutilized block of warehouses into a vibrant, premier live-work-play destination.' Community amenities include an 8,000-square-foot gym with cutting-edge equipment, a resort-style indoor-outdoor pool deck and glass infinity-edge spa, a movie theater, golf simulator, dog wash, community electric bikes, game room, multiple rooftop lounges, grill area, coworking lounge, market, and club room. Walker & Dunlop New York Capital Markets also arranged $157.5 million in loan proceeds to refinance Post District in November 2023. Read the previous press release here. Walker & Dunlop is one of the top providers of capital to the U.S. multifamily market; in 2024 the firm originated over $30 billion in debt financing volume, including lending over $25 billion for multifamily properties. This vast experience has made them a top advisor on all asset classes for many of the industry's top developers, owners, and operators. To learn more about Walker & Dunlop's broad financing options, visit our website. About Walker & Dunlop Walker & Dunlop (NYSE: WD) is one of the largest commercial real estate finance and advisory services firms in the United States and internationally. Our ideas and capital create communities where people live, work, shop, and play. Our innovative people, breadth of our brand, and our technological capabilities make us one of the most insightful and client-focused firms in the commercial real estate industry. About Bridge Investment Group Bridge is a leading alternative investment manager, diversified across specialized asset classes, with approximately $49 billion of assets under management as of March 31, 2025. Bridge combines its nationwide operating platform with dedicated teams of investment professionals focused on select U.S. verticals across real estate, credit, renewable energy and secondaries strategies. About Blaser Ventures Blaser Ventures is a Salt Lake City-based real estate developer focused on impact, sustainability, and placemaking. They specialize in Opportunity Zone projects, reuse historic structures, create mixed-income housing, and support local businesses. With over 400 affordable units in progress, Blaser builds long-term, community-enhancing developments that reduce carbon impact and preserve neighborhood character. About Lowe Property Group Lowe Property Group is a Salt Lake City–based, family-owned and vertically integrated real estate development and investment firm. LPG owns and operates over 2,500 residential units and 50,000 sq ft retail, 150,000 sq ft office, with over $1 billion assets under management. Their development arm is constructing 750+ units (>$300 M cap), while their private equity team invests nationally in multifamily and opportunistic assets.
Business Wire
17-06-2025
- Business
- Business Wire
Walker & Dunlop Arranges $125 Million Construction Loan for Mixed-Use Property, Cassi in the Miami Design District
BETHESDA, Md.--(BUSINESS WIRE)-- Walker & Dunlop, Inc. announced today that it arranged a $125 million loan to finance the construction of Cassi, a 107-unit mixed-use project located in Miami's acclaimed Design District. Walker & Dunlop New York Capital Markets, led by Sean Reimer, Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Jordan Casella, and Michael Stepniewski, were exclusive advisors to the joint venture team that includes Miami Design District Associates, Hunter Pasteur, and The Forbes Company. Amerant Bank led the financing package that also included Bank Hapoalim. 'Cassi Miami benefits from highly favorable zoning, allowing our client to deliver a cohesive and thoughtfully designed development,' said Sean Reimer, managing director of Capital Markets at Walker & Dunlop. 'As Miami's economy continues to thrive and demand for luxury, amenitized spaces grows, we're proud to partner with the sponsorship team and look forward to bringing this exceptional project to life.' The 20-story project includes 161,444 rentable square feet of residential space across a mix of 107 units, averaging 1,509 square feet. Unit types range from one- to three-bedrooms with dens. The amenity-rich project also features 23,000 rentable square feet of retail space and is located at the gateway of the Miami Design District, one of the city's most culturally significant developments, known for world-class art, luxury retail and award-winning restaurants. Legal representation for the transaction was provided by Adam Lustig, Salomé Bascuñan, and Kevin Koushel of Bilzin Sumberg on behalf of the joint venture team, and Mark Somerstein and Amanda Phillips of Greenspoon Marder on behalf of Amerant Bank and Bank Hapoalim. In 2024, Walker & Dunlop's Capital Markets team sourced over $16 billion from non-Agency capital providers. This vast experience has made them a top advisor on all asset classes for many of the industry's top developers, owners, and operators. To learn more about Walker & Dunlop's broad financing options, visit our website. About Walker & Dunlop Walker & Dunlop (NYSE: WD) is one of the largest commercial real estate finance and advisory services firms in the United States and internationally. Our ideas and capital create communities where people live, work, shop, and play. Our innovative people, breadth of our brand, and our technological capabilities make us one of the most insightful and client-focused firms in the commercial real estate industry. About Miami Design District The Miami Design District is a one-of-a-kind neighborhood that combines luxury shopping, galleries, museums, design stores, restaurants, and major art and design installations all within an architecturally significant context. The Miami Design District is owned and operated by Miami Design District Associates, a partnership between Dacra, founded and owned by visionary entrepreneur Craig Robins, and L Catterton Real Estate, a global real estate development and investment fund, specializing in creating luxury shopping destinations. As Miami becomes increasingly known for its own rich culture, the growth of the Miami Design District further reflects how the city is deserving of its place on the global stage.
Yahoo
19-03-2025
- Business
- Yahoo
Walker & Dunlop Arranges $253 Million Construction Financing for Nashville's Pendry Nashville and Pendry Residences Nashville
BETHESDA, Md., March 19, 2025--(BUSINESS WIRE)--Walker & Dunlop, Inc. announced today that it arranged a $253 million construction loan to facilitate the development of the Pendry Nashville and Pendry Residences Nashville a soon to be 30-story hotel condominium tower located in Nashville's rapidly growing Paseo South Gulch district. The Walker & Dunlop New York Capital Markets team, led by Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Michael Diaz, Sean Bastian and Jackson Irwin arranged the construction financing on behalf of SomeraRoad and Trestle Studio. Bank OZK and InterVest Capital Partners provided the financing package. Jay Morrow and Carter Gradwell of the Walker & Dunlop Hospitality team advised SomeraRoad throughout the process, working in collaboration with the New York Capital Markets team. As Phase 3 of the Paseo South Gulch master-planned micro-neighborhood by SomeraRoad, the Pendry Nashville Hotel & Residences will feature 180 hotel keys and 146 Pendry-branded luxury condominiums. Upon completion, the development will offer a wide range of amenities, a variety of upscale food and beverage outlets, curated event spaces, and individual pools for both hotel guests and residents, among other offerings. "Having worked with SomeraRoad to capitalize prior phases of their Paseo South Gulch master-planned development, we are firm believers in their long-term vision for the neighborhood," said Aaron Appel, senior managing director and co-head of New York Capital Markets at Walker & Dunlop. "In a market where more and more capital providers are shying away from complex mixed-use developments, this transaction highlights the availability of liquidity for qualified Sponsors with unique projects." The project is expected to break ground immediately with opening scheduled for 2027. In 2024, Walker & Dunlop's Capital Markets team sourced over $16 billion from non-Agency capital providers. This vast experience has made them a top advisor on all asset classes for many of the industry's top developers, owners, and operators. To learn more about Walker & Dunlop's broad financing options, visit our website. About Walker & Dunlop Walker & Dunlop (NYSE: WD) is one of the largest commercial real estate finance and advisory services firms in the United States and internationally. Our ideas and capital create communities where people live, work, shop, and play. Our innovative people, breadth of our brand, and our technological capabilities make us one of the most insightful and client-focused firms in the commercial real estate industry. View source version on Contacts Investors: Kelsey DuffeyInvestor RelationsPhone 301.202.3207investorrelations@ Media: Nina H. von WaldeggVP, Public RelationsPhone 301.564.3291info@ Phone 301.215.5500 7272 Wisconsin Avenue, Suite 1300Bethesda, Maryland 20814
Yahoo
13-03-2025
- Business
- Yahoo
Walker & Dunlop Advises on $420 Million Recapitalization of Trophy Brooklyn Rental Tower, Hub
BETHESDA, Md., March 13, 2025--(BUSINESS WIRE)--Walker & Dunlop, Inc. announced today the successful $420 million recapitalization of Hub, a trophy 750-unit high-rise multifamily building located in the heart of downtown Brooklyn. The Walker & Dunlop Capital Markets team, led by Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Michael Ianno, and Christopher de Raet, acted as exclusive advisors to Steiner NYC, successfully enabling them to buy out their equity partner, J.P. Morgan Asset Management. The Walker & Dunlop team advised Steiner on the $420 million recapitalization and also arranged $62.5 million of preferred equity from Meadow Partners to support the purchase. This move solidifies Steiner's full control of Hub, marking a strategic shift in the ownership structure of one of Brooklyn's best-in-class, high-rise residential buildings. "We are pleased to serve as a flexible and creative partner to Steiner NYC through our preferred equity financing solution for Hub," said Marc Mechanic, partner at Meadow Partners. "Meadow has significant experience as both an owner and lender operating in New York and this transaction reflects our ability to apply our extensive knowledge of the market to support a high-quality multifamily project in an attractive Brooklyn neighborhood." "It's been a privilege to work alongside Steiner to execute this unique project," said Aaron Appel, senior managing director and co-head of New York Capital Markets at Walker & Dunlop. "This deal stands apart from traditional financings due to its complex structure, which involved an equity buyout and the sourcing of preferred equity to help capitalize the transaction. We are excited to see Steiner gain full ownership of this landmark property." Developed by Steiner, Hub, at 55 stories, was the tallest building in Brooklyn upon completion in 2018. The tower, at 333 Schermerhorn Street, offers studio, one-, and two-bedroom rentals with stunning views of New York Harbor, the Manhattan skyline, and multiple bridges. Hub is located at the confluence of Boerum Hill, Fort Greene, Brooklyn Heights, and Park Slope, and boasts 12 subway lines in a 2-block radius. W&D previously arranged the construction financing, JPMAM's equity investment, and institutional permanent financing in 2019. "Walker & Dunlop added real value. This deal would not have gotten done without them. And it got done fast – two months from contract signing to closing," said Doug Steiner, Chairman of Steiner NYC. "We obviously take enormous pride in Hub, so we are thrilled to now have full ownership." Steiner traces its roots to 1907. Notable projects include: Steiner Studios, New York's only Hollywood-style film and television production facility, consisting of 900,000 square feet of soundstages and support space on 50 acres in the Brooklyn Navy Yard; "Steiner East Village," an 82-unit luxury condominium project that was the best-selling building in Manhattan upon completion; and "Admirals Row," a 686,000 square foot mixed-use complex at the Brooklyn Navy Yard featuring the first Wegmans Supermarket in New York City. In 2024, Walker & Dunlop's Capital Markets group sourced capital for transactions totaling over $16 billion from non-Agency capital providers. This vast experience has made them a top adviser on all asset classes for many of the industry's top developers, owners, and operators. To learn more about Walker & Dunlop's broad financing options, visit our website. About Walker & Dunlop Walker & Dunlop (NYSE: WD) is one of the largest commercial real estate finance and advisory services firms in the United States and internationally. Our ideas and capital create communities where people live, work, shop, and play. Our innovative people, breadth of our brand, and our technological capabilities make us one of the most insightful and client-focused firms in the commercial real estate industry. View source version on Contacts Investors: Kelsey DuffeyInvestor RelationsPhone 301.202.3207investorrelations@ Media: Nina H. von WaldeggVP, Public RelationsPhone 301.564.3291info@ Phone 301.215.5500 7272 Wisconsin Avenue, Suite 1300Bethesda, Maryland 20814 Sign in to access your portfolio
Yahoo
12-03-2025
- Business
- Yahoo
Walker & Dunlop Secures $176 Million Credit Facility for Diversified Single-Family Rental Portfolio across Atlanta
BETHESDA, Md., March 12, 2025--(BUSINESS WIRE)--Walker & Dunlop, Inc. announced today that it arranged a $176 million credit facility for seven single-family rental communities located across various neighborhoods within the Atlanta, Georgia MSA. The Walker & Dunlop New York Capital Markets team, led by Jonathan Schwartz, Aaron Appel, Keith Kurland, Adam Schwartz, Michael Ianno, Jackson Irwin, and Christopher de Raet, arranged the financing on behalf of institutional investors advised by J.P. Morgan Asset Management. Brookfield Asset Management's Real Estate Credit group provided the financing. The Walker & Dunlop Atlanta Investment sales team, led by Brooks Battle, previously arranged the transaction for institutional investors advised by J.P. Morgan Asset Management in 2021. The portfolio consists of 709 homes totaling 1.4 million rentable square feet across seven different communities, all situated within a 30- to 55-mile drive from Atlanta's central business district. Located in Atlanta's most sought-after suburbs, including McDonough, Loganville, Cartersville, Hoschton, Dallas, and Jefferson, the portfolio features a mix of 3-, 4-, and 5-bedroom homes with a variety of attractive amenities and best-in-class finishes. "The demand for single-family rental product, specifically in Atlanta's surrounding suburbs, has experienced significant growth in recent years, driven by a combination of population influx, job creation, and a strong local economy," said Jonathan Schwartz, senior managing director and co-head of New York Capital Markets. "We are pleased to be a part of this project, which will serve as the springboard for further single-family-rental development by this best-in-class partnership." In 2024, Walker & Dunlop's Capital Markets group sourced capital for transactions totaling over $16 billion from non-Agency capital providers. This vast experience has made them a top adviser on all asset classes for many of the industry's top developers, owners, and operators. To learn more about Walker & Dunlop's broad financing options, visit our website. About Brookfield Asset Management Brookfield Asset Management Ltd. (NYSE: BAM, TSX: BAM) is a leading global alternative asset manager, headquartered in New York, with over $1 trillion of assets under management across renewable power and transition, infrastructure, private equity, real estate, and credit. We invest client capital for the long-term with a focus on real assets and essential service businesses that form the backbone of the global economy. We offer a range of alternative investment products to investors around the world — including public and private pension plans, endowments and foundations, sovereign wealth funds, financial institutions, insurance companies and private wealth investors. We draw on Brookfield's heritage as an owner and operator to invest for value and generate strong returns for our clients, across economic cycles. Brookfield Credit manages approximately $317 billion of assets globally, focused on a broad range of private credit investment strategies, including infrastructure and renewable credit, real estate, asset backed, and corporate credit. Return profiles span investment grade, sub-investment grade, and opportunistic. The business combines Brookfield's substantial credit history with strategic partners, including Oaktree Capital Management, Castlelake, LCM Partners, 17Capital, and Primary Wave Music. As one of the world's largest and most experienced credit managers globally, Brookfield Credit delivers flexible, specialized capital solutions to borrowers, and seeks to achieve attractive risk-adjusted returns for our clients. For more information, please visit our website at About Walker & Dunlop Walker & Dunlop (NYSE: WD) is one of the largest commercial real estate finance and advisory services firms in the United States and internationally. Our ideas and capital create communities where people live, work, shop, and play. Our innovative people, breadth of our brand, and our technological capabilities make us one of the most insightful and client-focused firms in the commercial real estate industry. View source version on Contacts Investors: Kelsey DuffeyInvestor RelationsPhone 301.202.3207investorrelations@ Media: Nina H. von WaldeggVP, Public RelationsPhone 301.564.3291info@ Phone 301.215.5500 7272 Wisconsin Avenue, Suite 1300Bethesda, Maryland 20814 Sign in to access your portfolio
